
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC7508A]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
                  CHAPTER 77--MISCELLANEOUS PROVISIONS
 
Sec. 7508A. Authority to postpone certain tax-related deadlines 
        by reason of presidentially declared disaster
        

(a) In general

    In the case of a taxpayer determined by the Secretary to be affected 
by a Presidentially declared disaster (as defined by section 
1033(h)(3)), the Secretary may prescribe regulations under which a 
period of up to 90 days may be disregarded in determining, under the 
internal revenue laws, in respect of any tax liability (including any 
penalty, additional amount, or addition to the tax) of such taxpayer--
        (1) whether any of the acts described in paragraph (1) of 
    section 7508(a) were performed within the time prescribed therefor, 
    and
        (2) the amount of any credit or refund.

(b) Interest on overpayments and underpayments

    Subsection (a) shall not apply for the purpose of determining 
interest on any overpayment or underpayment.

(Added Pub. L. 105-34, title IX, Sec. 911(a), Aug. 5, 1997, 111 Stat. 
877.)


                             Effective Date

    Section 911(c) of Pub. L. 105-34 provided that: ``The amendments 
made by this section [enacting this section] shall apply with respect to 
any period for performing an act that has not expired before the date of 
the enactment of this Act [Aug. 5, 1997].''


  Authority To Postpone Certain Tax-Related Deadlines by Reason of Y2K 
                                Failures

    Pub. L. 106-170, title V, Sec. 522, Dec. 17, 1999, 113 Stat. 1927, 
provided that:
    ``(a) In General.--In the case of a taxpayer determined by the 
Secretary of the Treasury (or the Secretary's delegate) to be affected 
by a Y2K failure, the Secretary may disregard a period of up to 90 days 
in determining, under the internal revenue laws, in respect of any tax 
liability (including any interest, penalty, additional amount, or 
addition to the tax) of such taxpayer--
        ``(1) whether any of the acts described in paragraph (1) of 
    section 7508(a) of the Internal Revenue Code of 1986 (without regard 
    to the exceptions in parentheses in subparagraphs (A) and (B)) were 
    performed within the time prescribed therefor; and
        ``(2) the amount of any credit or refund.
    ``(b) Applicability of Certain Rules.--For purposes of this section, 
rules similar to the rules of subsections (b) and (e) of section 7508 of 
the Internal Revenue Code of 1986 shall apply.''


 Abatement of Interest on Underpayments by Taxpayers in Presidentially 
                         Declared Disaster Areas

    Section 915 of Pub. L. 105-34, as amended by Pub. L. 105-277, div. 
J, title IV, Sec. 4003(e)(1), Oct. 21, 1998, 112 Stat. 2681-909, 
provided that:
    ``(a) In General.--If the Secretary of the Treasury extends for any 
period the time for filing income tax returns under section 6081 of the 
Internal Revenue Code of 1986 and the time for paying income tax with 
respect to such returns under section 6161 of such Code (and waives any 
penalties relating to the failure to so file or so pay) for any 
individual located in a Presidentially declared disaster area, the 
Secretary shall, notwithstanding section 7508A(b) of such Code, abate 
for such period the assessment of any interest prescribed under section 
6601 of such Code on such income tax.
    ``(b) Presidentially Declared Disaster Area.--For purposes of 
subsection (a), the term `Presidentially declared disaster area' means, 
with respect to any individual, any area which the President has 
determined during 1997 or 1998 warrants assistance by the Federal 
Government under the Robert T. Stafford Disaster Relief and Emergency 
Assistance Act [42 U.S.C. 5121 et seq.].
    ``(c) Individual.--For purposes of this section, the term 
`individual' shall not include any estate or trust.
    ``(d) Effective Date.--This section shall apply to disasters 
declared after December 31, 1996.''
